Fonterra moves to reassure shareholders after Beingmate slashes guidance

Wed, 25 Jan 2017

By Rebecca Howard Jan. 25 (BusinessDesk) - Fonterra Cooperative Group has sought to reassure shareholders after its Chinese partner Beingmate Baby and Child Food Co slashed its full-year guidance. Shenzen-listed Beingmate now expects to report a full-year net loss of 750 million yuan to 800 million yuan, double its prior forecast loss, according to Reuters. In the prior year, the company reported a net profit of 103.6 million yuan. "We are confident in our overall China strategy, of which our Beingmate partnership continues to be an i...

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